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Mar 18, 2013
03/13
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bob pisani joins me. comeback in the market given the statements from jim o'neal earlier in the morning that this is a biggie and could have ripple effects over europe. i'm impressed that the market came back so much. >> the important thing is, let's put up the dow again. one of the reasons that we were moving up off of our lows is that money was coming out of europe and into the u.s. stock market. i'm sure some of it did. the important thing is after the market closed, europe closed around 12:30 eastern time. we held up very well. we're just off our highs. we were for a second positive just fractionally in the dow industrials. look at the major sector, sue, slightly more defensive. so telecom and utilities and consumer staples. look at the financials, sue. they were down more than 1% as a group but now only only fractionally if you look at the big banks, citi group has significant exposure to europe. the regional banks are all just down fractionally today. the dow stocks are up, big international names.
bob pisani joins me. comeback in the market given the statements from jim o'neal earlier in the morning that this is a biggie and could have ripple effects over europe. i'm impressed that the market came back so much. >> the important thing is, let's put up the dow again. one of the reasons that we were moving up off of our lows is that money was coming out of europe and into the u.s. stock market. i'm sure some of it did. the important thing is after the market closed, europe closed...
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Mar 19, 2013
03/13
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and bob, let me kick this off with you. when you say the fed will stop sooner rather than later, what are you envisioning? >> i don't really mean stop. i think maybe they will decide that $85 billion a month is more than they need and they will phase that down somewhat. i think, though, that it goes on through 2013. one thing that mr. bernanke believes that is relevant here, is that he thinks the stats of monetary policy has to do with the level of fed assets, rather than the growth of fed assets. so if he starts tapering off and just sort of glides in, he doesn't consider that a tightening. he would consider that locking in the ease that's already prevailing. >> all right. let me just interrupt for very quickly, mr. cashen just came by. there was a rumor going around that maybe the imf would step in on cyprus with a bailout plan of their own, but that's been discounted all of a sudden. >> a lot of speculation about that. >> that's just speculation. but that's what was making the rounds and pushing the market higher all of
and bob, let me kick this off with you. when you say the fed will stop sooner rather than later, what are you envisioning? >> i don't really mean stop. i think maybe they will decide that $85 billion a month is more than they need and they will phase that down somewhat. i think, though, that it goes on through 2013. one thing that mr. bernanke believes that is relevant here, is that he thinks the stats of monetary policy has to do with the level of fed assets, rather than the growth of...
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Mar 22, 2013
03/13
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>> bob, nicole, thank you so much for joining us today. still ahead on the topic of healthy, by the way, you know, actually not healthy, but delicious. the great bacon taco taste test. >> and the one airline out with a new perk for anybody who does not take a carry-on bag, but will it be enough to get people to pay the bag check fee? that story is coming up. >> time now for today's return on retirement. some wealthy workers could be in for a big shock when it comes to their return on retirement. charl charles can schwab asked its clients how much they would like to live on each year when no longer working. that magic number and why it could be an issue coming right up. can your hearing aid do this? lyric can. lyric can. lyric can. lyric by phonak is the world's only 24/7, 100% invisible hearing device. it's tiny. but that might be the least revolutionary thing about lyric. lyric can be worn 24/7 for up to four months, without battery changes. call 1-800-411-5534 for a risk-free trial. cookie: there's absolutely no way anyone can see it eve
>> bob, nicole, thank you so much for joining us today. still ahead on the topic of healthy, by the way, you know, actually not healthy, but delicious. the great bacon taco taste test. >> and the one airline out with a new perk for anybody who does not take a carry-on bag, but will it be enough to get people to pay the bag check fee? that story is coming up. >> time now for today's return on retirement. some wealthy workers could be in for a big shock when it comes to their...
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Mar 20, 2013
03/13
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we're going to start with bob pisani. risk seems to be back on in the market a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the
we're going to start with bob pisani. risk seems to be back on in the market a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the
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Mar 20, 2013
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we're going to start with bob pisani. risk seems to be back on in the market a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the united states would indicate, and now they've got some ammunition. two companies from fed ex and from caterpillar. now, caterpillar had dismal three-month sales numbers. really shocked a lot of people. fed ex, of course, had disappointing earnings situation, lower than expected international volume. now people are saying, see, we told you. here are who big companies who are saying it's not as big as everybody said. deere got a downgrade from wells fargo. i'll talk more about that in the 2:00. a little bit of good news on housing. keeps rolling along. lenore, 34% increase in building. >> we'll see you back in a few minutes. ty, we'll send it back up to you. >> thank you very much. bob just gave you a very clear shot at the market picture, so what's driving it? well, obviously three develop
we're going to start with bob pisani. risk seems to be back on in the market a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the united states would indicate, and now they've got some ammunition. two companies from fed ex and from caterpillar. now, caterpillar had dismal three-month sales numbers. really shocked a lot of people. fed ex, of course, had disappointing earnings...
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Mar 21, 2013
03/13
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bob mentioned oracle being a drag on techs. let's go up to the nasdaq where seema is following the big movers. >> i'll get to oracle in a second. take a look at apple. this stock continues to move in the opposite direction of the markets. i'm calling it the rebel in tech. yesterday we saw tech shares outperform, but apple did not participate in the rally. today we're seeing somewhat of a selloff in tech. and hey, take a look at apple. shares outperforming the pack, up about 1% on the day. gray wolf says i'd rather own apple than the s&p 500 at these levels. we'll continue to watch shares of apple. tech, one of the worst performing sectors on the day. oracle partly due to that. worrying investors on the street. a decline in software sales and subscriptions. jabil circuit, another loser after its forecasts were short of expectations and cisco lower on a downgrade. sue, back to you. >>> we're down 85 points now on the dow jones industrial average. perhaps some of that money is seeking the bond market. let's find out. rick santelli
bob mentioned oracle being a drag on techs. let's go up to the nasdaq where seema is following the big movers. >> i'll get to oracle in a second. take a look at apple. this stock continues to move in the opposite direction of the markets. i'm calling it the rebel in tech. yesterday we saw tech shares outperform, but apple did not participate in the rally. today we're seeing somewhat of a selloff in tech. and hey, take a look at apple. shares outperforming the pack, up about 1% on the day....
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Mar 21, 2013
03/13
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bob pisani on it, on the floor of the nyc. what's going on here, bob? >> two things, cyprus, and number two, global economic slowdown is the story today. take a look at the dow industrials. see that bottom around 2:00? we turned around when word came out that the cypriot government was creating a resolution process to wind down bad banks, and also, they're going to try to introduce a bill to protect depositors of up to 100,000 euros. that helped. global economic slowed down. transports were a major issue again today. and remember, we did see fedex week yesterday, weak again today. but others weak. like landstar and gatx. this was a big issue today. those stocks never really recovered here. multi-industry companies, here's the global slowdown. companies that work across many different platforms, many different countries were all down here today, 1, 2, or 3%. how about the home builders? a little disappointing, maria. existing home sales didn't break the psychologically important 5 million share mark. all were down today. kb home did have a very good earn
bob pisani on it, on the floor of the nyc. what's going on here, bob? >> two things, cyprus, and number two, global economic slowdown is the story today. take a look at the dow industrials. see that bottom around 2:00? we turned around when word came out that the cypriot government was creating a resolution process to wind down bad banks, and also, they're going to try to introduce a bill to protect depositors of up to 100,000 euros. that helped. global economic slowed down. transports...
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Mar 26, 2013
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so bob, what are you hearing? >> it's amazing the following the sell in may, go away has gotten. the last five years, it's been particularly big. there's a big buy-in into this idea. here's the problem i have, it really didn't work last year. we were up in that period from may through october. and secondly, let me get this straight. with the fed behind you, you are telling people that we should sell all their stocks and do, what, go into bond funds in may? i can think of a lot of o reasons, including a few year, where i'm not so sure that's a great idea. >> let's go to that daper guy in red there, mr. cox. you're the one that's always talking about the fed anyway. why would you sell if the fed's still in it? >> my biggest problems for this segment has been coming up with something to rhyme with april. but may's got it easy. and last year, as bob said, in june we kind of sang a different tune and came back after we did sell in may. anyway, all rhyming aside, i'm not saying you need to sell in april and then run and hide underneath your bed for the next six months. i do think that
so bob, what are you hearing? >> it's amazing the following the sell in may, go away has gotten. the last five years, it's been particularly big. there's a big buy-in into this idea. here's the problem i have, it really didn't work last year. we were up in that period from may through october. and secondly, let me get this straight. with the fed behind you, you are telling people that we should sell all their stocks and do, what, go into bond funds in may? i can think of a lot of o...
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Mar 20, 2013
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look at this market, 14,529. >> bob? >> 1,565 on the s&p. we could theoretically do it in the next few minutes. during bernanke's press conference, there was an unintentional moment of mirth, an amusing moment, where he said he had spoken to an unemployed person recently. it wasn't meant to be fun. but a lot of people chuckled at that one. hey, maria, look at the dow moving up. there was about 212, 212. the fed statement has been out and all of a sudden the dow moved up and everybody came over to me and said, what happened? i think this is actually not due to mr. bernanke or the fed. there was leak from japan about what the bank of japan might say tomorrow. there's going to be a press conference, the new guy is giving a press conference. the nikkei newspaper came out and said he's going to make an extremely aggressive statement. if you look at that dxj, the japan stock market rocketed up just after 2:00. the yen weakened. so i actually think some thoughts about what was going on here moved our market just a little bit here. guys? >> a dollar
look at this market, 14,529. >> bob? >> 1,565 on the s&p. we could theoretically do it in the next few minutes. during bernanke's press conference, there was an unintentional moment of mirth, an amusing moment, where he said he had spoken to an unemployed person recently. it wasn't meant to be fun. but a lot of people chuckled at that one. hey, maria, look at the dow moving up. there was about 212, 212. the fed statement has been out and all of a sudden the dow moved up and...
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Mar 18, 2013
03/13
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we have bob dole. we welcome back joe lavorgna and cnbc contributor larry mcdonald, head of global strategy at new edge. bob, i home you heard the charles dallara interview. he was more concerned about the consequences of this than i might have thought. concerned about a next run on the bank. concerned the greek central bank can't bail out cyprus or the ecb may not have a mandate. what is your thinking about this? >> that was a great segment. confiscation and confidence were the two key words. we know we have the possibility my 100 cents are not 100 any more that. undermines confidence and risk assets need confidence to improve. that's the sticking point we had carnage in europe, in asia. the u.s. was muted because the economy in the u.s. is pretty good and because it's still viewed as a safe haven. look what happened to the dollar. we can't continue to have question marks about confidence in an area of the world that's fragile and expect risk asset rallies including equity market to rally. >> european
we have bob dole. we welcome back joe lavorgna and cnbc contributor larry mcdonald, head of global strategy at new edge. bob, i home you heard the charles dallara interview. he was more concerned about the consequences of this than i might have thought. concerned about a next run on the bank. concerned the greek central bank can't bail out cyprus or the ecb may not have a mandate. what is your thinking about this? >> that was a great segment. confiscation and confidence were the two key...
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Mar 20, 2013
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guys, back to you. >> bob, thank you very much. bob pisani at the opening. >> time for "six in 60." >> everybody loves walgreens and talk about a game changeange people can't get enough of walgreens and it can't get enough of the whole industry. so i understand it, bingo, the stock goes higher. >> anadarko, can you believe a new finding in mexico will have shares up in wells fargo and the stocks are flying. >> zynga. >> valuation. where were the people when the stock was double? >> this m.s. franchise and this stock getting stronger and stronger. >> watch celgene. >> cintas. >> it has costs and it looks like this company did well and not so well on the bottom line and people are selling it, but it's a good employment situation. >> sky works. >> when they ding apple, they ding skyworks, but the stock did not go down, i don't know what it's doing, but it ain't bad. >> general mills, i love stocks that go up over time slowly and then when they report, actually accelera accelerate. that's general mills and ken pal. we should be talking
guys, back to you. >> bob, thank you very much. bob pisani at the opening. >> time for "six in 60." >> everybody loves walgreens and talk about a game changeange people can't get enough of walgreens and it can't get enough of the whole industry. so i understand it, bingo, the stock goes higher. >> anadarko, can you believe a new finding in mexico will have shares up in wells fargo and the stocks are flying. >> zynga. >> valuation. where were the...
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Mar 19, 2013
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bob pisani is here to tell us what is going on. there's a lot of headline risk in the market today. >> and we're back moving on europe now. >> exactly. given 38 to the downside is not that bad. >> even europe is not reacting that much. let me show you the euro. everyone goes crazy talking about the euro. perhaps the finance minister may be resigning, we're trying to confirm that for sure. that's what we've been hearing. and on words that the governing body there, the party of the majority may not even vote on the vote itself. the euro dropped. so the dow jones industrial dropped on that news. in fact, put up the dow, you can see it's in parallel and you can take a look now at the two main etfs here. the u.s. stock market, total market, etf, you can buy that. there is ivv. they are moving in tandem here. people ask me, gee, why is this happening? i'll put it simply, right now the ecb and imf have it. if they don't pay a tax, 85.8 billion euros, they are going to stop providing assistance to the banks. they will provide assistance, n
bob pisani is here to tell us what is going on. there's a lot of headline risk in the market today. >> and we're back moving on europe now. >> exactly. given 38 to the downside is not that bad. >> even europe is not reacting that much. let me show you the euro. everyone goes crazy talking about the euro. perhaps the finance minister may be resigning, we're trying to confirm that for sure. that's what we've been hearing. and on words that the governing body there, the party of...
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Mar 25, 2013
03/13
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bob mentioned the financials. what can happen in europe might eventually happen here in the united states. >> i don't suspect it really koul could happen but it gives investors an excuse to be cautious and take things off the table. we went right to the high and ran right into resistance. again, it gave people a chance to say let me take some money off the table and see where it goes. it's st end of the month. we will go into thursday with a little more to the upside but i don't think we're breaking any highs this week. >> if it really reflects european policy -- >> that's the big question. >> this is a victory for the moral hazard crowd. people claiming that endless bailouts are just wrong. but it introduces a whole new can f worms. >> it doesn't put the issue to sleep. only continues to bring it to the surface. >> what do you bring to the markets today? >> i think the market will end lower. it will churn all day and end here. there is no sense of panic but no reason to go out and buy new. it will -- we are stuck
bob mentioned the financials. what can happen in europe might eventually happen here in the united states. >> i don't suspect it really koul could happen but it gives investors an excuse to be cautious and take things off the table. we went right to the high and ran right into resistance. again, it gave people a chance to say let me take some money off the table and see where it goes. it's st end of the month. we will go into thursday with a little more to the upside but i don't think...
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Mar 18, 2013
03/13
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it's not going to go away. >> thank you, bob. thank you, anthony. >>> we'll be back with the closing countdown in a moment. >>> after the bell, exclusive interviews you won't see anywhere else. meredith whitney here talking about the banks. bullish on one of the country's biggest banks. plus, how europe's debt crisis could impact financials right here in the u.s. then cit group with chairman and ceo john thain. he'll address speculation his company is up for sale again. all ahead in the next hour of "the closing bell." you're watching "the closing bell" on cnbc, first in business worldwide. >>> >>> [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ there. i said it. they don't have pictures of my kids. they don't have my yoga mat. and s
it's not going to go away. >> thank you, bob. thank you, anthony. >>> we'll be back with the closing countdown in a moment. >>> after the bell, exclusive interviews you won't see anywhere else. meredith whitney here talking about the banks. bullish on one of the country's biggest banks. plus, how europe's debt crisis could impact financials right here in the u.s. then cit group with chairman and ceo john thain. he'll address speculation his company is up for sale again....
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Mar 25, 2013
03/13
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bob pisani runs through the sectors leading the rally early on today. bob? >> important thing is what's happened is while we're not at new high, we're close enough. a number of sector, bill, are already essentially at historic highs. a mix of the defensive and cyclic cal naal names. essentially at or near historic highs. there's a group that's kind of in the middle, bill, that hit historic highs in 2008 and are just off of them. just below them about 10%. that's the utility stocks and the energy stocks and the materials stocks are just off of their historic highs but heading in the right direction, at least. finally, here's the really tough one, these are the guys that have never gotten close. telecom stocks and the tech stocks were destroyed in the dot com bubble in 2000 and essentially have never gotten close back to old historic highs. 50% off. financials got destroyed in the financial crisis of 2008. they never really got all the way back. here's the problem, bill. financials and tech are the two biggest weightings in the s&p 500. they're the ones who re
bob pisani runs through the sectors leading the rally early on today. bob? >> important thing is what's happened is while we're not at new high, we're close enough. a number of sector, bill, are already essentially at historic highs. a mix of the defensive and cyclic cal naal names. essentially at or near historic highs. there's a group that's kind of in the middle, bill, that hit historic highs in 2008 and are just off of them. just below them about 10%. that's the utility stocks and the...
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Mar 19, 2013
03/13
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bob, why is your theory about why this fry pan is turning out a chicken chow mein without sticking? >> the reason is because the markets believe the central banks of the world have become the ultimate nanny state, that they are going to take care of everything. that remains to be seen but even in europe, if you'll notice, the declines have been relatively modest. take a look at the dow industrials. we moved on europe. we are moving on europe when word came out that the ruling party may abstain from the vote. we're not sure what is going on with the finance minister either. that's what happened there. moved down briefly. if you look at europe versus the united states, we're moving perfectly in tandem. here's the green. that's the european etf. you see this today, perfect match exactly moving together. so we're moving as the euro is moving and as europe is moving. i want to move on and talk about one group completely independent of what is happening in europe. schlumberger yesterday said north american activity was waker than expected. oil rig prices were dropping. it was a one-two pu
bob, why is your theory about why this fry pan is turning out a chicken chow mein without sticking? >> the reason is because the markets believe the central banks of the world have become the ultimate nanny state, that they are going to take care of everything. that remains to be seen but even in europe, if you'll notice, the declines have been relatively modest. take a look at the dow industrials. we moved on europe. we are moving on europe when word came out that the ruling party may...
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Mar 26, 2013
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is outperforming and no volatility. >> bob, kate, what do you think of this market? >> i think there's a couple different stories. i was puzzled to see how eabu yen the markets seemed to be, even though we're in an mark where the s&p 500 is up, you look at the kipry outbail-in and the comments from the dutch finance minister, people were very concerned about that yesterday, but if you look at the full transcript, which is public lishd on 9 f.t., he's actually saying that the bay-in is a last resort, not a first resort. at the same time, i think the market lines to see these politicians get tougher strong on banks. >> the main story here to me is 9 markets are less volatile, that they can really shrug off something that seems as significant, and the markets are up today. >> because the central banks will always be there. >> especially in social media which i cover, the emphasis will really be on earnings and how they'll play out. >> do you want to mention apple at this stage? >> why not? >> it's the norm. >> i mean, it's up a bit from the lows quite a bit. not so much
is outperforming and no volatility. >> bob, kate, what do you think of this market? >> i think there's a couple different stories. i was puzzled to see how eabu yen the markets seemed to be, even though we're in an mark where the s&p 500 is up, you look at the kipry outbail-in and the comments from the dutch finance minister, people were very concerned about that yesterday, but if you look at the full transcript, which is public lishd on 9 f.t., he's actually saying that the...
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Mar 22, 2013
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. >> let's send it over to bob who is in the middle of this crowd for marin software, bob? and they brought everybody including their mother down here. one of the fun things about this is everyone brings their family and there are all sorts of people, wife, aunts and uncles and i'm talking to various people from different parts of the world. the bottom line is it has the cloud-based technology. right now we're looking at 1850, and somewhere around there. remember, 7 million shares and they upped that. the price talk was 11 to 13 and pricing at 14 and now we're looking at 18.50, somewhere around that. good numbers here and 4 million and $15. we have another one today. wes corp. the phone service provideir and know you were talking about a big week for ipos. we had the model and all pricing above their initial price and all doing very well. i counted 27 ipos so far this year, and i talked to the ipo financial about that. 21 of them have priced above their initial price. 21 out of 27 and those are good numbers. i guess the question is, where are the rest of them? we ought to b
. >> let's send it over to bob who is in the middle of this crowd for marin software, bob? and they brought everybody including their mother down here. one of the fun things about this is everyone brings their family and there are all sorts of people, wife, aunts and uncles and i'm talking to various people from different parts of the world. the bottom line is it has the cloud-based technology. right now we're looking at 1850, and somewhere around there. remember, 7 million shares and...
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Mar 18, 2013
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what is a mini option, bob? >> a smaller version of the regular options. >> why do you need it, >> we do because small investors want to get in on options trading. today, the they will begin trad it. now, you can trade a mini contract one tenth the size, 10 shares. they introduced a mini futures contract a while ago. that was a huge success. the main object is to make it's easier to trade options for average guys. they're doing this with five big securities, all of which have high prices, amazon, apple, google, spiddr gold trust and n. suppose you had $25,000 of apple stock, you couldn't buy a minimum contract because it required 100 shares. now, you can buy five or six to cover your ability to buy protection against apple dropping. i don't know what you think about this. i like the idea. the options business is not growing as fast as five or six years ago. they have been looking for innovative ways to keep expanding. i think an interesting idea. >> i love the concept of product innovation. everybody said there'
what is a mini option, bob? >> a smaller version of the regular options. >> why do you need it, >> we do because small investors want to get in on options trading. today, the they will begin trad it. now, you can trade a mini contract one tenth the size, 10 shares. they introduced a mini futures contract a while ago. that was a huge success. the main object is to make it's easier to trade options for average guys. they're doing this with five big securities, all of which have...
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Mar 26, 2013
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guys, back to you. >> thank you, bob. i've been trying to figure out exactly when people have been trying to sell in april in order to sell in may. it looks like april 14th and i'm trying to find that one out. rec santelli at the cme in chicago. go ahead, rick. >> thanks, jim. sometimes the market gives you subtle clues and sometimes they flat line which is kind of the case with interest rates and especially the safe harbors. >> yes, we're up several becausis points in yield and some of that, of course, was after better than expected data after kay shiller or part of the durable goods numbers and it really jumps out at you and it's flat lining and here's an interesting chart and let's put stocks and the don't industrial average on the same chart as closing yields for ten and they've had a closing range of 24 basis point closing range for all of 2014 and while that's occurring and remember, we officially closed a whisker under 180 on the last day of last year during that time the dow was up 1200 points. think about that. t
guys, back to you. >> thank you, bob. i've been trying to figure out exactly when people have been trying to sell in april in order to sell in may. it looks like april 14th and i'm trying to find that one out. rec santelli at the cme in chicago. go ahead, rick. >> thanks, jim. sometimes the market gives you subtle clues and sometimes they flat line which is kind of the case with interest rates and especially the safe harbors. >> yes, we're up several becausis points in yield...
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Mar 25, 2013
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. >> let's check in with bob pisani with more on what is moving this morning. hi, bob. just three points away from the all-time closing high. 1562 is where we are. 1565 the all-time closing high. we see homebuilders's little bit higher and now that cyprus is sort of done, reducing volatility on the markets and the focus will shift to the fundamentals and what's going on. you know the bulls' argument and we have reasonable valuations and accommodative central banks and two things are worrying me and is the commentary last week and it was terrible. bell weathers like fedex, caterpillar, tibco software coming out with very poor commentary. i think that's a real worry for people. nobody's worried their overall commentary and we're expectation 10% increase in earnings for your 2013. another issue is the whole seasonality thing and i know sell a man, go away and sounds like an old wives tale. it's not, folks. there's been tremendous buy-in to this concept in the last several years as the numbers have become more supportive that on the idea that the period from november to apr
. >> let's check in with bob pisani with more on what is moving this morning. hi, bob. just three points away from the all-time closing high. 1562 is where we are. 1565 the all-time closing high. we see homebuilders's little bit higher and now that cyprus is sort of done, reducing volatility on the markets and the focus will shift to the fundamentals and what's going on. you know the bulls' argument and we have reasonable valuations and accommodative central banks and two things are...
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Mar 22, 2013
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bob corker great to see you, sir. now, folks, did the london whale trade fiasco cost jamie dimon a job? that's coming up next on kudlow. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and make your business dream a reality. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring
bob corker great to see you, sir. now, folks, did the london whale trade fiasco cost jamie dimon a job? that's coming up next on kudlow. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed...
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Mar 20, 2013
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bob pisani, rick santelli in chicago. bob, on the surface it looks as if really the markets kind of sniffed around a little at the edges and settled exactly where they were going into it. is that correct or is there more to this? >> no. on the surface it's exactly what things are doing right now. on the surface we're basically unchanged. the dow jones industrial average has been up all throughout the day, up about 40 points. and rarely do you get almost no move. usually you get some kind of gyration. we saw a little move in the dollar. the dollar was down, the euro was up a little bit. i would not call that statistically significant. gold moved just a little bit. i would say it's up fractionally. i wouldn't call that statistically significant. bonds hardly even moved. the only chuckle people were passing around was when the fed called out the government by saying fiscal policy has become somewhat more restrictive. that's an obvious reference to washington getting in the way even more with all the sequester issues. i would
bob pisani, rick santelli in chicago. bob, on the surface it looks as if really the markets kind of sniffed around a little at the edges and settled exactly where they were going into it. is that correct or is there more to this? >> no. on the surface it's exactly what things are doing right now. on the surface we're basically unchanged. the dow jones industrial average has been up all throughout the day, up about 40 points. and rarely do you get almost no move. usually you get some kind...
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Mar 21, 2013
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thank you very much, bob. >> smart move by america. ignore d.c. >>> overseas, anger is cyprus is growing as fast as the atm lines at the banks. nervous and frustrated citizens lining up to pull out their money. no one seems to know what the fate of cyprus and its banking system will be. all this as the ecb ramps up pressure. michelle caruso-cabrera is in the capital of nicosia. >> reporter: we're getting clarity about how they're going to resolve this crisis. there are protesters down the street. they wouldn't let them get close to parliament. they're mostly the workers at the weakest bank in this country. and it looks like increasingly the way they're going to come up with money to solve this problem is to shut down that very weak bad bank, move the good assets over to another bank. the workers that have gathered know they're going to lose their jobs if that's indeed what happens. more than 2,000 people. this has been a long process to arrive at this point. and as you mentioned, there had been all day long lines at the atms of the ban
thank you very much, bob. >> smart move by america. ignore d.c. >>> overseas, anger is cyprus is growing as fast as the atm lines at the banks. nervous and frustrated citizens lining up to pull out their money. no one seems to know what the fate of cyprus and its banking system will be. all this as the ecb ramps up pressure. michelle caruso-cabrera is in the capital of nicosia. >> reporter: we're getting clarity about how they're going to resolve this crisis. there are...
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Mar 22, 2013
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have a good weekend. >> bob, you too. see you next week. reading the signs to find out if this market is about to embark on a bumpy ride. that's next. the dow transportation average just pointed the worst week of 2013. what does that mean for the rally we've been seeing all year? just ahead, a debate on the so-called dow theory. >>> and then, online shoppers, beware. you may get slapped with a new internet tax being handed down from capitol hill. that story, just ahead. >>> and later, giving new meaning to the term zombie economy. >> they see you as killers. they're training to attack. >> i'll tell you what, next time you see phillip, you tell him i'm going to take his other eye. >> the creator of "the walking dead," robert kirkman, attributes part of his show's success to the financial crisis. kirkman will join me later to explain. you're watching the "closing bell" on cnbc, first in business, worldwide. [ male announcer ] this is a reason to look twice. the stunning lexus es. get great values on your favorite lexus models during the comma
have a good weekend. >> bob, you too. see you next week. reading the signs to find out if this market is about to embark on a bumpy ride. that's next. the dow transportation average just pointed the worst week of 2013. what does that mean for the rally we've been seeing all year? just ahead, a debate on the so-called dow theory. >>> and then, online shoppers, beware. you may get slapped with a new internet tax being handed down from capitol hill. that story, just ahead....
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Mar 25, 2013
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bob pisani is here to tell us how to pronounce the gentleman's name. >> this guy has been the head of the euro group three weeks. think it's a little trial by fire for the poor guy? he said something that was quite reasonable today. think about it. he said, first off, we're going to tell in the future stockholders and bondholders should take the first hit when a bank needs to be recapitalized. then the uninsured bank depositors should be asked to contribute something. lastly a bailout. that might be a reasonable thing to say. everyone jumped on this, this is the new template. his office came out and said every country is unique. this is not a new template necessarily. >> it shows us how on edge everybody is. >> most of us believe it is. >> which statement is the truth? which one does he really mean? >> it's good news for people worried about the moral hazard stuff. you can't have bailouts forever. it's a hazard, moral hazard. it's created a little more uncertainty. the question is your first question. when do we get to the new highs on the s&p? i think when we get a little more clarif
bob pisani is here to tell us how to pronounce the gentleman's name. >> this guy has been the head of the euro group three weeks. think it's a little trial by fire for the poor guy? he said something that was quite reasonable today. think about it. he said, first off, we're going to tell in the future stockholders and bondholders should take the first hit when a bank needs to be recapitalized. then the uninsured bank depositors should be asked to contribute something. lastly a bailout....
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Mar 18, 2013
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joining me right now along with hank is jason pride, peter schiff of euro pacific capital and our own bob pisani. peter schiff, let me kick it off with you and get your take on what's going on in cyprus right now. what's the impact? >> a lot of people are hoping what happens in cyprus stays in cyprus. i wouldn't be so sure. i think bank depositors including depositors here in the united states have to be concerned about the value of their deposits. because if we have a major bank failure in the united states, you know, there's no way the fdic has the money to cover the potential losses. so we would have to have a huge bailout like t.a.r.p. and where would the money come from? and even if there is a bailout and the fed has to print money, the losses to depositors to inflation will be far greater than what the cyprus depositors are losing due to this tax. >> hank smith, it is pretty extraordinary depositors have to pay for a bailout they didn't necessarily authorize. what do you think about what peter said? is this a recipe that would be used elsewhere in the world? >> i highly down it, mar
joining me right now along with hank is jason pride, peter schiff of euro pacific capital and our own bob pisani. peter schiff, let me kick it off with you and get your take on what's going on in cyprus right now. what's the impact? >> a lot of people are hoping what happens in cyprus stays in cyprus. i wouldn't be so sure. i think bank depositors including depositors here in the united states have to be concerned about the value of their deposits. because if we have a major bank failure...
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Mar 21, 2013
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bob, so are you? >>> andrew is in the big easy speaking to the world's biggest merger and acquisition players. andrew, we were missing you the last hour. >> i swear i thought that was a bong. and we just had the cannabis guy. >> it is the hand grenade, new orleans's most powerful drink. >> a what? >> hand grenade. >> that's orange juice, right? >> no. we filled it with orange juice. >> i just told becky -- do you remember what you were asking me yesterday? do you remember that conversation we had? >> no. what are you talking about? >> you were talking about what does the morality clause in your contract actually stipulate? >> did you really ask him that? >> we did. >> we were joking. it was a joke. i can't believe you said that on television. >> why did you need to know on your way to new orleans what it actually stipulates? >> i thought he was lying. >> i wasn't. he asked me what does a morality clause actually -- >> hold on. you're not giving the full context to this conversation. >> let's just drop
bob, so are you? >>> andrew is in the big easy speaking to the world's biggest merger and acquisition players. andrew, we were missing you the last hour. >> i swear i thought that was a bong. and we just had the cannabis guy. >> it is the hand grenade, new orleans's most powerful drink. >> a what? >> hand grenade. >> that's orange juice, right? >> no. we filled it with orange juice. >> i just told becky -- do you remember what you were asking...
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Mar 22, 2013
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guys, back to you. >> thank you so much, bob. nearly a month ago, byron wien told us that the market was getting ahead of itself and profit margins could take it back. >> that was back on the 27th. since then, the markets have continued to climbing. joining us, byron wien, happy friday, byron. >> yeah, i'm still there. >> so you're still cautious? the market has continued higher. >> well, yeah, you know, as long as the fed is pumping $85 billion a month into the market, a lot of that is designed to go into the real economy. but it ends up going into financial assets. so it's been pushing stocks higher. but, you know, the earnings season is starting to -- is upon us. and we've already had indications from federal express and oracle that it's a tough environment out there. >> well, let me ask you about the environment, broadly speaking, in terms of the corporate side of the story, byron. because, of course, we know this week, we saw deterioration in the transports. we saw fedex reporting disappointment. oracle reported disappointme
guys, back to you. >> thank you so much, bob. nearly a month ago, byron wien told us that the market was getting ahead of itself and profit margins could take it back. >> that was back on the 27th. since then, the markets have continued to climbing. joining us, byron wien, happy friday, byron. >> yeah, i'm still there. >> so you're still cautious? the market has continued higher. >> well, yeah, you know, as long as the fed is pumping $85 billion a month into the...
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Mar 21, 2013
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back to you. >> i like that one, bob. snh, november o snh, another one that yields 6%. >>> rick santelli is at the cme group in chicago. >> i want to read something. notice the markets moved a lot in the last ten minutes. interest rates down, ebb wits down. translation -- it is all about translation. the headline seems to read, russia deputy economy minister cyprus crisis not to be fixed soon to have serious consequences. it sounds a bit clumsy. i want to put an asterisk here. the market jumped to the worst possible interpretation. but, that is what's moving the markets. now, let's see how much. look at an intraday of 10-year, boom, it moved down rather dramatically. price rallied. bunds. bunds the same way. actually a little bit quicker. you open up the chart on bunds year to date, you can put this into perspective. everybody who thinks the safe harbor fixed income can only sell off, that isn't exactly the case. whether it is the one-off with cyprus. the arch ferdinand moment in history -- >> that's the spot. i can tell
back to you. >> i like that one, bob. snh, november o snh, another one that yields 6%. >>> rick santelli is at the cme group in chicago. >> i want to read something. notice the markets moved a lot in the last ten minutes. interest rates down, ebb wits down. translation -- it is all about translation. the headline seems to read, russia deputy economy minister cyprus crisis not to be fixed soon to have serious consequences. it sounds a bit clumsy. i want to put an asterisk...
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Mar 25, 2013
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. >> bob, thank you so much for that. let's bring in the president of mercadian asset management. let's just move away from cyprus for two seconds. we really need some good news at this point. more than momentum. >> yes, you're right. i think, you know, dealing with the sigh brus albeit, in a poor fashion, is really just a sigh of relief. we 24i this the markets will move to a new market high. we do think in the allocation strategies we look for good valuations. we think they're there. we're bumping up against old record highs that have been in place for several years and i think it will take more than a lack of bad news. >> i certainly don't mean to be disrespectful, but ken, maybe there is a silver lining for u.s. investors in that if you missed out on this rally, the cyprus news is creating an opportunity to get in at a lower level. now that we are breaking new highs or about to break new highs, you're looking at people sitting on money saying maybe i missed last five years but i can pick up maybe where i left off. i wouldn't discount the fact. this could not -- not that we --
. >> bob, thank you so much for that. let's bring in the president of mercadian asset management. let's just move away from cyprus for two seconds. we really need some good news at this point. more than momentum. >> yes, you're right. i think, you know, dealing with the sigh brus albeit, in a poor fashion, is really just a sigh of relief. we 24i this the markets will move to a new market high. we do think in the allocation strategies we look for good valuations. we think they're...
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Mar 26, 2013
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i'm bob simon. in this edition, we look at two innovative experiments in the housing and job markets aimed at solving long-term problems caused by the great recession. and later on, we examine the impact on brevard county, florida, of scuttling the space shuttle program. we begin with the housing industry. chances are the home you're in isn't worth what it used to be. you may not have indulged in the real estate bubble with its liars' loans and wall street greed, but you were stuck with the bill. and if you thought your home value couldn't drop any more, have a look up and down the block. you might say, "there goes the neighborhood." one of the threats from the great recession was the sudden surge in the number of abandoned houses. as scott pelley reported in december 2011, vacant homes become so ruinous in some neighborhoods that one city, cleveland, decided it had to find a solution. >> perfectly good homes... worth $75,000, $100,000 or more a couple of years ago... are being ripped to splinters i
i'm bob simon. in this edition, we look at two innovative experiments in the housing and job markets aimed at solving long-term problems caused by the great recession. and later on, we examine the impact on brevard county, florida, of scuttling the space shuttle program. we begin with the housing industry. chances are the home you're in isn't worth what it used to be. you may not have indulged in the real estate bubble with its liars' loans and wall street greed, but you were stuck with the...
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Mar 18, 2013
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bob pisani at the nyse. a lot of people are saying staying the correction was not out of the question and this might be as good a catalyst as any. >> listen, i think it's outrageous what's been done and proposed here. the markets are not shows tremendous signs of fear. correction in half an hour. a lot of people coming off the lows on an intraday on the dow. once europe closed we would do nothing but head downward. off our highs. literally went positive for a second in the dow but it hasn't been that bad. this is all want very normal range for the dow today. volume is a bit on the light side, by the way. no avalanche selling going on. take a look at the btk. major european etf and you can see europe came off the lows. they weren't selling europe to go into the united states. europe was coming off the lows right from the early part of the day for them. this is that bgk. look at the sectors. while, yes, financials are weak throughout the day. down around 1%. telecom was on the upside. most of the rest of them,
bob pisani at the nyse. a lot of people are saying staying the correction was not out of the question and this might be as good a catalyst as any. >> listen, i think it's outrageous what's been done and proposed here. the markets are not shows tremendous signs of fear. correction in half an hour. a lot of people coming off the lows on an intraday on the dow. once europe closed we would do nothing but head downward. off our highs. literally went positive for a second in the dow but it...
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Mar 26, 2013
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bob pisani is here on the floor of the nyse with some of the trading action. so yesterday we were down triple digits, today up triple digits. >> with the s&p up seven points, dow up 70, you would think we would have all the market leaders, but the tone is fairly defensive. utilities moving up, consumer staples, all market leaders, the finances are really the laggard here. tech is also not as strong as the overall market. no sign of pulling out of bonds. this story is going no where are. bond etfs have had inflows four straight days, including some of the corporate bond etfs. four straight days to the upside. retail stocks have been a bit weak today, so noticeable declines. gap, chico's and american eagle, look at those declines here. i think this is related to the consumer confidence number. put up the retail etf, you can buy all of these stocks in a single etf, you see how it dropped right after 10:00. i think that is the problem. some concerns about slower traffic in march. finally gaming, atlantic city declared bankruptcy. the big competitor is borgata, own
bob pisani is here on the floor of the nyse with some of the trading action. so yesterday we were down triple digits, today up triple digits. >> with the s&p up seven points, dow up 70, you would think we would have all the market leaders, but the tone is fairly defensive. utilities moving up, consumer staples, all market leaders, the finances are really the laggard here. tech is also not as strong as the overall market. no sign of pulling out of bonds. this story is going no where...
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Mar 19, 2013
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i'm bob simon. even though fraud played a significant role in the 2008 meltdown of the american economy, as of late 2012, there have been several civil suits filed against major wall street financial firms, but not a single criminal prosecution. in this edition, we look back at the 2008 financial crisis and the failure of government regulators to prosecute those who might be criminally responsible. later, lehman brothers bankruptcy investigator anton valukas shares his findings on the collapse of the giant investment bank where no senior official has ever faced charges in the biggest bankruptcy in u.s. history. but first we begin with a nine-month 60 minutes investigation looking for wall street cases that might have prosecutorial merit. in december 2011, steve kroft reported on two such cases. we begin with a woman named eileen foster, a former senior executive at countrywide financial, one of the epicenters of the crisis. >> do you believe that there are people at countrywide who belong behind bar
i'm bob simon. even though fraud played a significant role in the 2008 meltdown of the american economy, as of late 2012, there have been several civil suits filed against major wall street financial firms, but not a single criminal prosecution. in this edition, we look back at the 2008 financial crisis and the failure of government regulators to prosecute those who might be criminally responsible. later, lehman brothers bankruptcy investigator anton valukas shares his findings on the collapse...
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Mar 26, 2013
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bob pisani recaps the day's actions. >> complaints, complaints, everybody's wondering what happened to the rally. look at the s&p, we closed a point and a half away from an historic high. sell in may and go away, please, give me a break. did you see defense stocks today? boeing, multi-year high. aircraft components of the durable goods report was pretty decent. successful test flight of the 787. that all helped. other aerospace stocks were on the upside. the rebel declared bankruptcy in atlantic city. their competitor, that helped them. and also, rbc capital had a no doubt. they raised their estimates on a come of these companies. retailers, a little rough on retailers today. children's place, very bad guidance, but there's a big problem for the retailers. the weather has been unusually cold in the northeast and in the midwest and that's making it very difficult for people to transition or get them to transition from buying winter clothes to spring clothes. nobody wants to buy it, so there's a lot of heavy markdowns on some of these early spring fashions. that's a little bit of a probl
bob pisani recaps the day's actions. >> complaints, complaints, everybody's wondering what happened to the rally. look at the s&p, we closed a point and a half away from an historic high. sell in may and go away, please, give me a break. did you see defense stocks today? boeing, multi-year high. aircraft components of the durable goods report was pretty decent. successful test flight of the 787. that all helped. other aerospace stocks were on the upside. the rebel declared bankruptcy...
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Mar 22, 2013
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let's see what the mood of bob pisani is as we go positive for the week. >> the important thing is 14,514. believe it or not. keep on going on either side. need to be over 14,514. the worst week of the year. goes to show you how great it's been for the year that we're basically flat and this is the worst week of the year. take a look at some of the shipping stocks. i've been asked about why they are all up. shipping stocks have been destroyed in the last year, but they are all rallying, a conference here in new york today and yesterday there was a lot of talk about demand for particularly oil transports. ships might be improving, the pricing might be going up and even some of the guys who do dry bulk shipping like dry ships are on the upside. a very tough call, but they are moving on a lot of speculation right now. meantime we've got five trading days left in the quarter, and look at this. the dow is up double digits. still an indication of how strong things are, that we're considering this a very disappointing week and by and large flat. >> on a day like today. you need the analysis of t
let's see what the mood of bob pisani is as we go positive for the week. >> the important thing is 14,514. believe it or not. keep on going on either side. need to be over 14,514. the worst week of the year. goes to show you how great it's been for the year that we're basically flat and this is the worst week of the year. take a look at some of the shipping stocks. i've been asked about why they are all up. shipping stocks have been destroyed in the last year, but they are all rallying, a...
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. >> bob, if you try and foirth what's happening to the global economy right now, i've heard a lot of economies, and a lot of things that talked about how things have slowed a bit around the globe. do you worry that europe pushes in one direction or another? >> earlier, i was probably more optimistic than everybody. now i'm a bit more pessimistic than anybody. i'm kwernd about the big drops. i'm not running a dshg that the job growth hasn't picked up. the data we're looking at this year is comparable to the data we saw last year. those aren't the numbers that were there. trend hasn't improved. and then you look at this stuff in cyprus and sicyprus has to b chilling. a wrote a note yesterday that said they bailed out cyprus. is italy next? people in italy have rejected austerity. the people, okay? and up until now, the europeans have played this elitist game where the people in charge, the legislators in charge, the president, the prime ministers have been able to jigger things around to do what they want without ever calling anything a change in the treaty so it never had to be voted
. >> bob, if you try and foirth what's happening to the global economy right now, i've heard a lot of economies, and a lot of things that talked about how things have slowed a bit around the globe. do you worry that europe pushes in one direction or another? >> earlier, i was probably more optimistic than everybody. now i'm a bit more pessimistic than anybody. i'm kwernd about the big drops. i'm not running a dshg that the job growth hasn't picked up. the data we're looking at this...
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Mar 19, 2013
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let's check in on bob pisani on what is moving here on the floor. >> japan is up 2% and they're just on fire. asia's mixed and europe is on the mixed side and here in the u.s. we're doing all right. airlines are roaring. banks are up. bank of america is up 1.5. the homebuilders are up. on cyprus, your guess is as good as mine. here's my guess, at the end of the day they'll go to 100,000 euros and they'll keep that deposit on 100,000 intact. yes, they're talking about 20,000 and they'll be under pressure to go all of the way up and yes, they'll get the russian oligarchs annoyed and the exploits annoyed and at end of the day they'll get close to $100,000 and that will go a long way to calm the contagion fears. the rest of europe isn't going to be that foolish. let's move on. did you see the homebuilders? the main etf for homebuilders and that's the itd in a five-year high and housing recovery chugging along and well above estimates. here's the number. year over year. single family starts are up 31% compared to february of last year. multifamilies are up 21%. permits are at their highes
let's check in on bob pisani on what is moving here on the floor. >> japan is up 2% and they're just on fire. asia's mixed and europe is on the mixed side and here in the u.s. we're doing all right. airlines are roaring. banks are up. bank of america is up 1.5. the homebuilders are up. on cyprus, your guess is as good as mine. here's my guess, at the end of the day they'll go to 100,000 euros and they'll keep that deposit on 100,000 intact. yes, they're talking about 20,000 and they'll be...
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Mar 19, 2013
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. >> bob roth, david lynch foundation, taught ray galio how to do meditation. it was amazeng. >> a different david lynch? >> actually not. >> it is amazing. i'm a total skeptic. i thought i was going to sit there and do this mantra stuff. >> how long did you meditate for? >> 20 minutes twice a day. >> did you ohm. >> i have my own mantra. >> you can just use your breath. it doesn't matter. >> corporation wants to increase productivity, want their employees to be healthy. city hall. >> here's the thing. city hall is not telling you to go and meditate. >> it's telling me not to have a 16 ounce soda. that's absurd. warren buffett -- how long has he been living on 2800 calories? if he wants to have a cherry coke, god bless him. this is insane. >> but they end up in our emergency rooms. even if you don't have single payer health care you pay for it. that's the thing. >> and the health care cost inflation is -- >> it's huge. $300 billion is what stress is costing corporate america right now. forget the touchy-feely wanting people to be healthy. start with the bottom
. >> bob roth, david lynch foundation, taught ray galio how to do meditation. it was amazeng. >> a different david lynch? >> actually not. >> it is amazing. i'm a total skeptic. i thought i was going to sit there and do this mantra stuff. >> how long did you meditate for? >> 20 minutes twice a day. >> did you ohm. >> i have my own mantra. >> you can just use your breath. it doesn't matter. >> corporation wants to increase productivity,...
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. >> let's check in with bob and he's on the floor this morning with more of what's moving. >> happy monday. weir well off of our lows and now we're only down 72 and the financials are weak and energy stocks and some of the materials are down 1%. all of the gold stocks are to the upside. you know, i asked around saturday and said why did they go after the deposits so much and apparently the answer i got from people who watch this stuff was that was all there was to go after and there was not a lot else they could seize in any way easily and with all of this said, can i just take the other side of this about not protesting too much? there were plenty of one-off taxes in europe. the italians have been screaming for months about this. they had a whole new bunch of taxes on their financial assets and some of capital gains and not all on deposits and there were a lot of one-off taxes in europe reese leent and will we have some kind of bank run? there have been safety programs in the last two years put into effect and they have the bond-buying program and the ecb, able to buy cheap loans a
. >> let's check in with bob and he's on the floor this morning with more of what's moving. >> happy monday. weir well off of our lows and now we're only down 72 and the financials are weak and energy stocks and some of the materials are down 1%. all of the gold stocks are to the upside. you know, i asked around saturday and said why did they go after the deposits so much and apparently the answer i got from people who watch this stuff was that was all there was to go after and...